A spokesperson of anyoption confirmed that anyoption Israel call center will be moved out of Israel. What can we expect next from the large binary options broker?
20 February, AtoZForex – Earlier this month, the Cyprus Securities and Exchange Commission (CySEC) has released the new Circular in relation to the Binary Options. Specifically, the circular was targeting the Binary Options brokers providers with operations in non-European countries.
Following the news, the Israel Securities Authority, ISA announced to join forces with the Attorney General and the Ministry of Justice to take on the Binary Options platform as a whole. Now, the largest Israeli Binary Options provider anyoption has revealed to move its Israeli call center out of Israel. Is the decision of anyoption a coincidence?
'Only anyoption Israel call center will be moved'
anyoption is a CySEC regulated firm which possesses over a Cyprus Investment Firm (CIF) license. It is registered under the name Ouroboros Derivatives Trading Ltd. After CySEC has introduced the new Circular earlier this month, it was reported that the Binary Options provider anyoption closed its Israeli call center. Thus laying off nearly 80 employees. The news about anyoption just came right after last month Banc de Binary shut down.
Reportedly, a source from anyoption commented to the local Israeli media that it is not intending to shut down the business. In order to confirm this story, I have reached out to anyoption for an official comment on the case. Eventually, a spokesperson of anyoption, who wishes to remain anonymous, confirmed the case. When asked about the anyoption Israel call center, the spokesperson answered:
"Yes. Only the call center will be moved. The rest of the operations are live and working."
CySEC and ISA join forces
CySEC has issued a Circular with a range of proposed changes to regulations. This aimed at improving the obligations of Binary Options brokers so that CIFs will “meet their compulsions in acting in the best interest of their clients”. The circular forces regulated brokers to operate their sales and marketing department from their head offices or from EU-member countries.
Reportedly, the change is also directed towards Israeli brokers and firms that have been outsourcing their activities to the Far East. The collaboration of the regulatory bodies of Cyprus and Israel is strengthening. The latest addition to the CySEC regulatory framework came after the Israeli Securities Authority (ISA) chief Prof. Hauser and CySEC head Demetra Kalogerou has met earlier this year.
Last year, the Chairman of the ISA, Prof. Shmuel Hauser has reported to Israeli local media that he has addressed the legal authority of the government. At the time, he asked for permission to cease the marketing of Binary Options abroad. Such initiative was taken, as according to Mr. Hauser it is “an ugly phenomenon that is tarnishing Israel’s image.” Consequently, Forex trading was restricted in Israel, whereas Binary Options were forbidden for Israeli traders. Now, the regulator takes steps even further, focusing on the international firms that operate from the country.
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